365 Waverly St · Park Forest, IL 60466

$114,900

3 bd · 2.0 ba · 1,419 sqft · SingleFamily public records · 62 Days on market

Built 1955 7,750 sqft lot Est $176k · 35% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Terrific property located near schools, parks, and transportation. Features 4 bedrooms and 2 bathrooms. Make repairs and build equity! Sold AS-IS. Taxes prorated at 100. No survey.

Key facts

• Near schools
• Near parks
• Near transportation

Tags

• NEAR SCHOOLS
• NEAR PARKS
• NEAR TRANSPORTATION

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: 2 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Brick construction; Built approximately 71–80 years ago; Property built before 1978
• Construction: Brick exterior
• Exterior features: Lot roughly 50 x 155; Less than 0.25 acre lot

Interior

• Kitchen: Kitchen on main level — 20 x 9; Ceramic tile flooring in kitchen
• Bedrooms: Master bedroom (Main) — 13 x 11; Bedroom 2 (Main) — 13 x 10; Bedroom 3 (Main) — 12 x 11; Bedroom 4 (Main) — 12 x 16
• Flooring: Wood laminate in living areas and bedrooms; Ceramic tile in kitchen and laundry
• Bathrooms: 2 full bathrooms; Half bath attached to master bedroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: 7 total rooms; Separate dining room; Family room
• Laundry & utility: Main level laundry — 6 x 5; Ceramic tile flooring in laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $854 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 9.5% in Park Forest — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 78/100 on livability (#148 in IL, #2,726 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, amenities F.
• Rich Twp Hsd 227 (suburban): math 5% / reading 12% proficiency, ranked #577 of 620 in IL (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 106 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 41% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.82% ✓
• Cap rate: 15.21%
• Cash-on-cash: 31.84%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $175,956
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
356 Waverly St	0.05mi	3/2.0	1,419 (0%)	2mo	$120,000	$85	96
358 Waverly St	0.03mi	3/2.0	1,419 (0%)	3mo	$57,000	$40	96
339 Blackhawk Dr	0.35mi	3/2.0	1,417 (-0%)	1mo	$234,200	$165	82
354 Westgate Dr	0.25mi	3/1.5	1,470 (+4%)	2mo	$75,000	$51	79
340 Sauk Trl	0.20mi	3/2.0	1,576 (+11%)	1mo	$180,000	$114	72
356 Wilshire St	0.14mi	3/1.5	1,248 (-12%)	2mo	$50,000	$40	69
287 Mohawk St	0.53mi	3/1.0	1,408 (-1%)	1mo	$175,000	$124	69
109 Wilson St	0.39mi	3/2.0	1,525 (+8%)	1mo	$233,500	$153	69
4 Lakewood Ct	0.26mi	4/2.0 (+1)	1,556 (+10%)	2mo	$205,000	$132	65
251 Westwood Dr	0.34mi	3/2.0	1,248 (-12%)	2mo	$217,000	$174	62
245 Miami St	0.68mi	3/1.0	1,363 (-4%)	2mo	$139,000	$102	56
433 Lakewood Blvd	0.58mi	3/1.5	1,248 (-12%)	2mo	$165,000	$132	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.8%
• Equity multiple: 2.11×
• Total profit: $35,786
• Equity at exit: $17,132

10-year hold

• IRR: 34.4%
• Equity multiple: 4.15×
• Total profit: $101,304
• Equity at exit: $9,934

Cash invested: $32,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 60466

• Home prices YoY: -21.1%
• Active inventory: 106
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,086 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $854

Break-even live

Break-even rent $1,005

Max offer price $114,900

Occupancy floor 54%

Sensitivity live

Price	-10% $933	-5% $893	+0% $854	+5% $814	+10% $774
Rent	-10% $689	-5% $771	+0% $854	+5% $936	+10% $1,018
Rate	-1.0pp $912	-0.5pp $883	base $854	+0.5pp $824	+1.0pp $794

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Watseka St Park Forest, IL	4.0	2.0	1161	$2,161	$1.86	17d	1	0.29mi
3905 Tower Dr Richton Park, IL	1.0–2.0	1.0–2.0	905	$1,795	$1.98	0d	19	0.57mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	23d	1	0.57mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	13d	1	0.57mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	8d	1	0.57mi
4200 Arlington Dr Richton Park, IL	3.0	2.0	1595	$2,061	$1.29	21d	1	0.94mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,200	$2.01	0d	1	0.95mi
22501 Butterfield Rd Unit 22411-506 Richton Park, IL	2.0	1.0	882	$1,325	$1.50	8d	1	0.96mi
22501 Butterfield Rd Unit 22415-207 Richton Park, IL	2.0	1.5	944	$1,360	$1.44	8d	1	0.96mi
22501 Butterfield Rd Unit 22411-514 Richton Park, IL	2.0	1.5	1021	$1,365	$1.34	8d	1	0.96mi
22501 Butterfield Rd Unit 22400-311 Richton Park, IL	2.0	1.0	882	$1,360	$1.54	8d	1	0.96mi
3838 216th Pl Matteson, IL	2.0	2.0	1160	$1,996	$1.72	21d	1	0.97mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	4d	1	0.98mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	25d	1	1.04mi
4020 216th St Unit 2E Matteson, IL	3.0	1.0	1000	$2,000	$2.00	0d	1	1.12mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	4d	1	1.19mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$2,069	$2.02	0d	1	1.23mi
22015 E Churchill Dr Richton Park, IL	4.0	2.0	1200	$2,300	$1.92	25d	1	1.23mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	25d	1	1.24mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	25d	1	1.26mi
3538 212th Pl Matteson, IL	3.0	1.0	1209	$2,000	$1.65	25d	1	1.30mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	0d	11	1.34mi
19 Apple Ln Park Forest, IL	3.0	1.0	1541	$2,300	$1.49	13d	1	1.38mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	25d	1	1.39mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	23d	1	1.40mi

Listing history 33 events

1. 2026-06-21
   days on market $114,900 Active 62 DOM
2. 2026-06-18
   days on market $114,900 Active 59 DOM
3. 2026-06-17
   days on market $114,900 Active 58 DOM
4. 2026-06-16
   days on market $114,900 Active 57 DOM
5. 2026-06-15
   days on market $114,900 Active 56 DOM
6. 2026-06-13
   days on market $114,900 Active 54 DOM
7. 2026-06-09
   days on market $114,900 Active 50 DOM
8. 2026-06-08
   days on market $114,900 Active 49 DOM
9. 2026-06-07
   days on market $114,900 Active 48 DOM
10. 2026-06-04
    days on market $114,900 Active 45 DOM
11. 2026-06-03
    days on market $114,900 Active 44 DOM
12. 2026-06-02
    days on market $114,900 Active 43 DOM
13. 2026-06-01
    days on market $114,900 Active 42 DOM
14. 2026-05-31
    days on market $114,900 Active 41 DOM
15. 2026-05-07
    status Active
16. 2026-04-23
    historical Contingent - Continue to Show
17. 2026-04-20
    listed $119,900 Active
18. 2026-04-16
    historical
19. 2026-03-11
    status Active
20. 2026-03-07
    historical Contingent - Continue to Show
21. 2026-02-19
    price
22. 2026-01-13
    price
23. 2025-11-14
    listed Active
24. 2021-12-31
    historical
25. 2020-08-13
    listed New
26. 2019-04-30
    historical
27. 2018-10-17
    listed New
28. 2018-08-14
    soldstatus $492,000
29. 2010-08-25
    soldstatus $37,000 Closed Sale
30. 2010-04-08
    status Pending
31. 2010-03-26
    listed $37,000 New
32. 1997-04-22
    soldstatus $80,000
33. 1991-10-04
    soldstatus $51,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,029
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − Depreciation: −$3,343
• Taxable income: $8,948
• Est. tax owed @ 24.0%: −$2,147
• After-tax cash flow: $8,097/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rich Twp Hsd 227
• NCES district ID: 1733420
• Math proficiency: 5% ▼ -3.00%
• Reading proficiency: 12% ▬ 0.00%
• Median HH income: $56,056
• Composite: 8.93/100
• National rank: #9885
• State rank: #577 of 620 in IL

Livability — Park Forest

• Score: 78/100
• State rank: #148
• US rank: #2726

Category grades

Amenities F Commute A+ Cost of living A+ Crime C+ Employment C+ Housing A+ Health & safety C+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Park Forest, IL
• County: Cook County · 4,486,803 people
• City population: 21,461
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 21,461
• Household income: $61,654
• Rent vs Own: 33.7% rent · 66.3% own
• Severe rent burden: 900.0

Population outlook (Cook County) Hauer SSP2

• Today (2025): 5,347,519 people
• By 2030: 5,357,703 · +0.2%
• By 2040: 5,324,924 · -0.4%
• By 2050: 5,230,762 · -2.2%
• By 2075: 4,785,735 · -10.5%
• By 2100: 4,188,836 · -21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 19% Hispanic / Latino 9% Two or more races 3% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 2% Iranian 1% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 7% French/Haitian/Cajun 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Cook

• 2024 margin: Solid D (+42.0) · D 70.4% · R 28.4% · Other 1.2%
• 2008→2024 swing: -11.4pp toward R · 2008: 53.4pp · 2024: 42.0pp
• All cycles: 2024: D+42.0 2020: D+50.3 2016: D+53.0 2012: D+49.4 2008: D+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.87%
• Current HPI: 219.9692
• Rent YoY: —
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+135.1% since first listed

19 events — show timeline

• 2026-05-07 Relisted — MRED as Distributed by MLS Grid
• 2026-04-23 Contingent — MRED as Distributed by MLS Grid
• 2026-04-20 Listed $119,900 MRED as Distributed by MLS Grid
• 2026-04-16 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-11 Relisted — MRED as Distributed by MLS Grid
• 2026-03-07 Contingent — MRED as Distributed by MLS Grid
• 2026-02-19 Price Changed — MRED as Distributed by MLS Grid
• 2026-01-13 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-14 Listed — MRED as Distributed by MLS Grid
• 2021-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2020-08-13 Listed — MRED as Distributed by MLS Grid
• 2019-04-30 Listing Removed — MRED as Distributed by MLS Grid
• 2018-10-17 Listed — MRED as Distributed by MLS Grid
• 2018-08-14 Sold (Public Records) $492,000 Public Records
• 2010-08-25 Sold (MLS) $37,000 MRED as Distributed by MLS Grid
• 2010-04-08 Pending — MRED as Distributed by MLS Grid
• 2010-03-26 Listed $37,000 MRED as Distributed by MLS Grid
• 1997-04-22 Sold (Public Records) $80,000 Public Records
• 1991-10-04 Sold (Public Records) $51,000 Public Records

Property tax history

+5.4%/yr

Latest (2023): $10,248 · +27.3% YoY. Source: county tax records.